Analyze both stories. Is the author's suggestions a good solution to Essay

Analyze both stories. Is the author's suggestions a good solution to solving a problem - Essay Example On the other hand, the Houyhnhnms see themselves as superior to the Yahoos because they are more rational, thus giving the former the right to have power over the latter’s life and death (Lemke, Martin, Fuentes, and Swift 47). Justifying Infanticide depicts how Singer sees himself as a rational Houyhnhnm who should have a power to decide over the life and death of those considered non-humans, or those who are not yet humans. However, Swift’s aim is to make people realize that humans are indeed Yahoos with pure genetic composition and the propensity towards sensual pleasures, but are also Houyhnhnms with rational thinking and the propensity towards oversimplifications and ideas. In Justifying Infanticide, Singer separated these two --- intelligence and incarnation --- by referring to newborns not as persons, but merely pain-receptors having no psychological association to its future personhood (33). Therefore, if one follows this line of reasoning, newborns are Yahoos wh ose life and death are under the decision of the superior Houyhnhnms. A Modest Proposal is entirely different since it is a satirical exaggeration that states selling the children as food to rich people may alleviate the poor parents’ economic situation (Swift 13). Justifying Infanticide Justifying Infanticide has a utilitarian root that reinforces the concept of â€Å"doing the greatest good for the greatest number.† It says that a deed is made moral if the end justifies the means. In line with this thought, Singer theorizes that eliminating a certain percentage of the population is acceptable if justified by the situation or the result it offers (34-5). According to the utilitarian point of view, objections from people who perceive that killing a person is morally incorrect are mostly based on emotions. Utilitarianism asserts the belief that reason should be the main basis of ethics, so it means that infanticide can be justified by reason in some cases, thus be deeme d ethical (Sloane 47-8). For a clearer definition of terms, infanticide is the intentional killing of an infant for reasons ranging from partiality to a specific gender to control of population (Vehmas 38). Utilitarian Peter Singer provides the most controversial defense of infanticide. For example, Singer states that the costs to families and societies and the quality of life in caring for children with specific disabilities entail more effort but provides less positive results (35). This may be a controversial stance, but on a realistic viewpoint, the child will live a life that is considered unhappy or unwanted by most people. This is one case where infanticide is considered humane (Sloane 48). One great difficulty, however, is in deciding when this is justifiable because there is always the argument that no one can really say when a certain life is undesirable other than that very person. However, one strong defense of infanticide in the utilitarian standpoint is the argument ag ainst the suffering infant whose medical case is beyond the scientific capacity to cure (Vehmas 39). For Singer, it is more altruistic to allow parents to choose to end their and their child’s suffering through euthanasia (36). A Modest Proposal The lack of compassion towards the poverty-stricken citizens is the target of Swift’

Core Elements of Islamic Finance Essay Example | Topics and Well Written Essays - 1000 words

Core Elements of Islamic Finance - Essay Example This aims to ensure that the target and purpose of the Islamic finance industry benefit the society by balancing spiritual needs with material pursuits, as well as social and individual needs. This paper will discuss ways in which Islamic finance can be seen as an innovative way that could substantively redefine finance and also why it is substantively different from conventional finance. Core Elements of Islamic Finance Islamic finance is different from conventional banking and the core notion behind it is that God (Allah) owns all the wealth in the world, over which man is only a trustee. Humans, therefore, have an obligation to manage the wealth in accordance with the commands of Allah that prohibit activities which do not promote justice (Rammal & Zurbruegg 69). One major reason for imposing Islamic ethics and law on finance is to promote and uphold social justice, since Islam is deemed to be inseparable from social justice. Islamic finance is based on the core perspective that p rohibits the practice of usury, which means lending money to earn interest, also known as riba. Sharia law defines it as an excess compensation that has no due consideration. Effectively, this underlying factor redefines finance from the Islam point of view. However, it does not expressly preclude an agreed-upon return on investment by the transacting parties, where any reference to interest only sets standards for the return on investment for transparency purposes. The implication is that interest is not used in the transaction, although capital is not just provided to investors without a return. This concept stems from the fact that Sharia law does not recognize money as having intrinsic value, but rather, only as a measure of value whose use should not be paid for. This makes Islamic finance an asset based industry, in contrast to the currency based conventional finance system, and investments are structured on the ownership or exchange of assets, with money only acting as a paym ent medium to effect transactions (Rammal & Zurbruegg 73). Innovations of Islamic Finance Islamic financial institutions have taken advantage of some of the misgivings of conventional finance and launched innovative initiatives that have supported their steady progress. Deficiencies have led people to seek alternatives and move away from the conventional system. The strong ethical orientation, on which Islamic finance is based, as well as the connection of the movement of Islamic finance with the modern resurgence of Islamic civilization, is appealing even to non-Muslims. Islamic finance has the potential to establish a closer link between financial and real segments of the economy. Innovative products like Musharakha and Mudaraba, which mean equity participation and partnership financing respectively, ensure profit sharing that is based upon partnership principles (Timur 791). Another Islamic view of finance is that it emphasizes on risk and profit sharing, rather than the notion o f risk transfer as seen in conventional finance and banking. For example, the Murabaha product (which refers to a cost-plus sale) and other trade-based finance modes undertake trade with a mark-up and facilitate financing on short-term basis in a similar fashion to purchase finance in conventional finance. However, the difference is that a bank may buy an asset from a seller and agree on the